Global Image Guided Surgical Equipment Market Size By Product Type, By Application, By Technology, By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Image Guided Surgical Equipment Market Size And Forecast

Image Guided Surgical Equipment Market size was valued at USD 6.9 Billion in 2023 and is projected to reach USD 17.25 Billion By 2030, growing at a CAGR of 9.9% during the forecast period 2024 to 2030.

The Image Guided Surgical Equipment Market refers to the segment within the broader medical devices industry that encompasses the development, manufacturing, and distribution of surgical equipment integrated with imaging technologies such as MRI, CT, ultrasound, and X-ray. These sophisticated systems enable surgeons to visualize the internal structures of a patient’s body in real-time during surgical procedures, thereby enhancing precision, accuracy, and safety.

 Global Image Guided Surgical Equipment Market Drivers

The market drivers for the Image Guided Surgical Equipment Market can be influenced by various factors. These may include

  • Technological Developments The precision and accuracy of image-guided surgical operations have been greatly enhanced by ongoing developments in imaging technologies, including MRI, CT, and ultrasound. Real-time viewing is made possible by the integration of sophisticated imaging modalities with surgical equipment, which improves surgical results and patient safety.
  • Growing Preference for Minimally Invasive Procedures Compared to open surgeries, minimally invasive surgical techniques offer less risks, faster recovery times, and less pain. These advantages have led to a growing demand for these procedures. The need for these systems is driven by the ability of surgeons to execute difficult procedures with increased precision through small incisions thanks to image-guided surgical equipment.
  • Growing Prevalence of Chronic Diseases Modern surgical procedures are required for the diagnosis and treatment of the growing number of chronic diseases, including cancer, cardiovascular diseases, and neurological problems. The market is growing because image-guided surgical technology makes it possible to detect certain diseases early, diagnose them accurately, and treat them specifically.
  • Population Aging As the world’s population ages, more people are becoming sick with age-related illnesses and ailments that call for surgery. When it comes to meeting the unique requirements of senior patients, image-guided surgical technology is essential since it makes customized surgical operations safer and more efficient.
  • Growing Healthcare Expenditure In order to enhance healthcare services and infrastructure, governments and private healthcare organizations are spending more on healthcare. In order to improve healthcare delivery, investments are being made in cutting-edge surgical technology, such as image-guided surgical equipment, which is propelling market expansion.
  • Growing Uses A wide range of medical specialties, including cancer, orthopedics, neurology, cardiology, and gastroenterology, are utilizing image-guided surgical equipment. The market potential is expanded by the growing range of applications, and manufacturers are presented with opportunity to produce tailored systems that meet particular medical needs.
  • Strategic Partnerships and Collaborations To advance product development, increase market share, and better clinical outcomes, manufacturers are forming strategic partnerships and collaborations with healthcare organizations, research centers, and technology firms. By pooling resources and expertise, these partnerships promote the creation of novel solutions and expand the market.

Global Image Guided Surgical Equipment Market Restraints

Several factors can act as restraints or challenges for the Image Guided Surgical Equipment Market. These may include

  • Expensive Equipment Purchasing and maintaining image-guided surgical equipment can be costly due to the use of advanced technology and high-end imaging modalities. Healthcare facilities may be discouraged from investing in these technologies due to the high cost of equipment, especially those operating in resource-constrained environments. This would limit the growth of the market.
  • Absence of Skilled Professionals It takes certain training and experience to operate image-guided surgical equipment. On the other hand, there might not be enough medical practitioners with the training and experience needed to use these technology efficiently. The deployment of image-guided surgical equipment and its penetration into healthcare facilities may be limited by a shortage of experienced workers.
  • Fears Associated with Radiation Exposure Ionizing radiation is a risk associated with certain image-guided surgical techniques, such as computed tomography (CT) and fluoroscopy, for both patients and medical staff. Patients and healthcare professionals may be reluctant to use these treatments because of worries about the long-term effects of radiation exposure, particularly for non-emergency procedures.
  • Regulatory Difficulties The regulatory clearance procedures for image-guided surgical instruments may be drawn out and intricate. Tight regulations, especially with regard to efficacy and safety, could impede the release of new products and developments onto the market. Regulatory obstacles may present difficulties for manufacturers looking to join or grow in a given market.
  • Limited payment Coverage Although image-guided surgical treatments may have a number of clinical benefits, there may be regional or systemic variations in the payment coverage of these procedures. Inadequate payment could deter medical professionals from providing these services or from making the required equipment purchases, which would limit market expansion.
  • Data Security and Privacy Issues Sensitive patient information and images are frequently collected and stored by image-guided surgical equipment. The growing usage of digital images and connection technologies may give rise to worries about data privacy and security breaches. It could be difficult for manufacturers and healthcare providers to address these issues and guarantee compliance with data privacy laws.
  • Rivalry from Alternative Technologies Navigational systems and robotic-assisted surgery are two examples of alternative technologies that pose a threat to image-guided surgical equipment, notwithstanding its advantages in terms of accuracy and real-time viewing. The adoption of image-guided surgical equipment may be impacted by healthcare practitioners’ choice of alternative solutions based on several variables, including cost-effectiveness, ease of use, and clinical outcomes.
  • Infrastructure and Connectivity Issues Reliable infrastructure and seamless connectivity—including high-speed internet connection and integration with electronic health record systems—are essential for the efficient use of image-guided surgical equipment. However, poor connectivity and infrastructure, especially in remote or underdeveloped places, may make it more difficult for people to accept and use these technologies.

Global Image Guided Surgical Equipment Market Segmentation Analysis

The Global Image Guided Surgical Equipment Market is segmented based on Product Type, Application, Technology, and Geography.

Image Guided Surgical Equipment Market, By Product Type

  • Surgical navigation systemsDevices aiding surgeons with real-time imaging and spatial tracking for enhanced precision during procedures.
  • Surgical robotsAdvanced robotic systems assisting surgeons in performing minimally invasive surgeries with improved accuracy and dexterity.
  • Intraoperative imaging systemsTechnologies utilized during surgery to provide real-time imaging for informed decision-making and precision.
  • Others (such as hybrid operating room equipment)Innovative equipment integrating various technologies to optimize surgical procedures in hybrid operating rooms.

Image Guided Surgical Equipment Market, By Application

  • NeurosurgerySurgical interventions focusing on conditions of the brain, spine, and nervous system.
  • Orthopedic surgerySurgical procedures targeting the musculoskeletal system, including bones, joints, and soft tissues.
  • ENT surgerySurgical treatments addressing disorders of the ear, nose, and throat.
  • Cardiovascular surgerySurgical interventions targeting the heart and blood vessels for various conditions.
  • UrologySurgical procedures addressing diseases and conditions of the urinary tract and male reproductive system.

Image Guided Surgical Equipment Market, By Technology

  • Magnetic resonance imaging (MRI)Imaging technology using magnetic fields and radio waves to produce detailed images of the body’s internal structures.
  • Computed tomography (CT)Imaging technique combining X-rays and computer processing to create cross-sectional images of the body.
  • Positron emission tomography (PET)Imaging method utilizing radioactive tracers to detect metabolic activity within tissues.
  • UltrasoundNon-invasive imaging technique using high-frequency sound waves to visualize internal organs and structures.

Image Guided Surgical Equipment Market, By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Key Players

The major players in the Image Guided Surgical Equipment Market are

  • Siemens Healthineers
  • Philips Healthcare
  • GE Healthcare
  • Medtronic plc
  • Stryker Corporation
  • Canon Medical Systems Corporation
  • Johnson & Johnson
  • Karl Storz SE & Co KG
  • Brainlab AG
  • Intuitive Surgical Inc

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

Unit

Value (USD Billion)

KEY COMPANIES PROFILED

Siemens Healthineers, Philips Healthcare, GE Healthcare, Medtronic plc, Stryker Corporation, Canon Medical Systems Corporation, Johnson & Johnson, Karl Storz SE & Co KG, Brainlab AG, Intuitive Surgical Inc.

SEGMENTS COVERED

By Product Type, By Application, By Technology And By Geography.

CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Analyst’s Take

So, what's the bottom line for the Image Guided Surgical Equipment Market? We're looking at some pretty significant growth! This is largely because more and more people want minimally invasive surgeries, plus we're seeing some awesome advancements in imaging tech. Throw in the rising number of chronic diseases and our growing aging population, and you've got a recipe for a booming market. Since everyone – doctors and patients – wants better results and safer procedures, expect to see more and more of this equipment being used, which means big opportunities for the companies involved. Of course, it's not all sunshine and roses. Those hefty upfront costs, regulatory red tape, and worries about data security and how well systems work together could slow things down a bit. To really make the most of this market, companies need to focus on being innovative, working together strategically, and investing smartly in R&D to keep up with what healthcare providers and patients actually need.

Research Methodology of Market Research

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